Wednesday, December 10, 2025
11:00 am EST | 8:00 am PST | 4:00 pm GMT
As 2025 draws to a close, investors face evolving interest rate trends, resilient earnings, persistent inflation, and rapid technological change.
In this session, CFRA's top analysts shared actionable insights to help position your portfolio for the opportunities and risks of 2026.
Expert Panel:
- Stewart Glickman, CFA (moderator) – Director of Research
- Sam Stovall, CFP – Chief Investment Strategist
- Michael Kahn, CMT – SVP, Senior Market Analyst
Our analysts reflected on the significant economic shifts in 2025, including shifting monetary policy expectations, uneven global growth, persistent inflation dynamics, and evolving sector performance patterns. They examined how these developments are shaping market structure, trend formation, valuation regimes, and risks as we move into 2026.
We discussed:
- Market Structure –Cross-asset trend developments observed in 2025 and their potential implications for 2026
- Market Timing Signals– Technical patterns and indicators that could signal changes in market momentum and leadership
- Winning Sectors for 2026 – Fundamental considerations shaping sector performance, including earnings trends and valuation dynamics
- Global Risk Assessment – Macro forces such as global economic conditions, policy developments, and geopolitical factors
Speakers
Stewart Glickman, CFA
Director of Equity Research
Stewart Glickman is Director of Equity Research at CFRA. He is responsible for analytical Energy sector coverage across the value chain. Stewart held the position of Sector Head of the Energy and Materials teams and Industry Analyst for S&P Global Market Intelligence.
Prior to joining CFRA and S&P Global, Stewart worked in strategic consulting with Monitor Company and in economic consulting with Law and Economics Consulting Group and National Economic Research Associates, Inc.
Stewart holds a Bachelor of Arts degree in Economics from the University of Western Ontario, a Master of Arts degree in Economics from the University of Victoria and an MBA in Finance and Accounting from the Stern School of Business at New York University. Stewart is a CFA charterholder.
Sam Stovall, CFP
Chief Investment Strategist
Sam is Chief Investment Strategist. Sam Stovall is an analyst, publisher, and communicator of CFRA’s outlooks for the economy, market, and sectors. He is the author of The Seven Rules of Wall Street and The S&P Guide to Sector Investing. He also writes weekly “Sector Watch” and “Investment Policy” reports on CFRA’s MarketScope Advisor platform and maintains the Industry Momentum and Seasonal Rotation portfolios. His work is also found in CFRA’s flagship weekly newsletter The Outlook.
Michael Kahn, CMT
SVP, Sr. Market Analyst
Michael Kahn, CMT, is an SVP, Sr. Market Analyst at Lowry Research, a CFRA business with over 30 years of professional experience as an analyst, writer, educator, and product manager. He is active in the CMT Association as a former member of the Board of Directors, editor of the association newsletter, and chair or member of several committees. Mr. Kahn wrote a twice-weekly column on Technical Analysis for Barron's and regular articles for MarketWatch, Kiplinger, and many others. Mr. Kahn researched and edited his own daily market letter and contributed to a weekly options webinar with Ally Invest. Before that, he was Chief Market Technician at BridgeNews.
